پلاٹینم ایکویٹی نے 2017 کی سرمایہ کاری USS کو برقرار رکھنے کے لیے کنٹیونیشن فنڈ اکٹھا کیا۔

پلاٹینیم ایکویٹی has closed a continuation fund to take on its 2017 investment in portable toilet and site services business یو ایس ایس.

LPs backing the new fund included Fortress Investment Group, Landmark Partners and Blackstone Strategic Partners, while Credit Suisse assisted with the private offering.

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Platinum said that since acquiring USS four years ago the company had been expanded through 36 add-ons, seeing its revenue double and EBITDA triple.

Firm partner Louis Samson said, “This transaction provides the best of both worlds: a chance to monetize the value we have created over the past four years, while providing new and existing investors the opportunity for additional returns on the next stage of the company’s growth.

“USS has a proven leadership team, a clearly defined strategic plan, and a playbook that has generated consistent results.

“With additional capital and a longer runway, the company is poised to reach even greater heights.”

Platinum Equity said it will continue to invest in organic and inorganic growth initiatives.

Firm managing director David Glatt added, “USS has proven to be an exceptional platform for organic and acquisitive growth.

“Our M&A program at USS is a well-oiled machine that continues to accelerate, with substantial opportunities to continue expanding in a highly fragmented market.”

Platinum is reportedly the latest private equity major to eye a massive new fundraise، صرف a year after its $10bn Fund V close.

The firm is out seeking up to $15bn for what would be its biggest-ever fund according to Bloomberg, which cited unnamed people it said had knowledge of the matter.

Platinum has set a $12bn target for Fund VI, it added, with the $15bn figure a hard cap for the vehicle.

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Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/platinum-equity-raises-continuation-fund-to-keep-hold-of-2017-investment-uss.html